Suchergebnisse

• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 24: AIG (2005)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …Greenberg was liable as a “control person” during the fraud, but it had not accused him of fraud directly. Under the settlement, 84 year-old Greenberg… …Internal Control, Hoboken/New Jersey 2006, pp. 358–361 Securities and Exchange Commission: SEC v. Maurice R. Greenberg and Howard I. Smith, Litigation…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 25: Bernard Madoff (2008)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …, and BDO Seidman (an arm of BDO International). This prob- ably gave confidence to investors that everything was under control. However, it…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 26: Juergen Schneider (Germany, 1994)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …face of failure. Juergen Schneider had kept close control of his property holdings. Because the Schneider group was organized as a limited liability…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 27: Flowtex (Germany, 2000)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …simple. Some 300 drilling systems did actually exist, but indi- vidual machines were sold and re-leased several times over (to companies under the control…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 31: Bankgesellschaft Berlin (Germany, 2001)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …, with the accompanying problems, become so clearly visible. Politicians sat on the bank’s board for decades, and control of the bank’s activities was… …largely lost as a result of the politicians’ failure to fulfil their supervisory role. Said one observer: “Give politicians control of banks, and you… …mix of businesses made it difficult for the supervisory board of the parent institution to maintain control and insist on clear risk reporting from… …to restructure the bank: cutting costs, bringing its subsidiaries more firmly under control, and re- focusing on its core domestic retail and savings…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 34: Royal Ahold (The Netherlands, 2003)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …permitted a parent company to fully consolidate the financial data of a joint venture company only if the parent could exercise effective control over that… …firm’s operations. However, Ahold owned no more than 50% of the voting shares and there were agreements that clearly provided for joint control by Ahold… …, which stated, in effect, that Ahold controlled the joint ventures (“the control letters”). But soon thereafter, Ahold and its joint venture partners… …executed side letters that re- scinded the control letters, and thus the basis for full consolidation (“the rescinding Accounting Fraud in European… …Companies 203 letters”). CFO Michiel Meurs, who signed both the control and the rescinding let- ters on behalf of Ahold, knew that the auditors were… …relying on the control letters and were unaware of the existence of the rescinding letters. CEO Cees van der Hoeven was at least reckless in not knowing… …to make up numbers. It usually starts small, here and there, and then it just snowballs out of control.” References: European Corporate…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 35: Parmalat (Italy, 2003)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …remained a family- owned business, with 51% of the shares under the control of Calisto Tanzi and his family. Some of the new markets that Parmalat entered… …who on the one hand wanted his company to grow into a global giant but on the other hand wanted it to remain under family control. A Milan judge…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 37: Siemens (Germany, 2006)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …typically tight on corporate controls,” Donaldson explained. “You have some dramatic failures of control in the Siemens case. Hundreds of millions of…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 38: Daewoo Group (South Korea, 1999)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …: “Kim was a visionary, a wonderful salesman, but a poor financial control- ler. His recipe of the way out of the crisis was to keep spending more, not…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 40: Kanebo (Japan, 2005)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …to ensure audit quality control was deemed insufficient by the agency. The penalty was the FSA’s first against one of Japan’s “Big Four” audit firms… …the taint – changed its name to “Misuzu Audit Corporation” and under- went a review to strengthen its quality control functions. But already in February… …a majority of Kanebo’s stock and took over control of the company. The former Kanebo president, Takashi Hoashi, and his deputies won leniency…

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